Piper Sandler Reiterates “Overweight” Rating for Shoulder Innovations (NYSE:SI)

Shoulder Innovations (NYSE:SI)‘s stock had its “overweight” rating restated by Piper Sandler in a report released on Wednesday,Benzinga reports. They presently have a $18.00 price target on the stock. Piper Sandler’s price target indicates a potential upside of 19.36% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Morgan Stanley began coverage on Shoulder Innovations in a research report on Monday, August 25th. They set an “overweight” rating and a $18.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They set a “buy” rating and a $19.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Shoulder Innovations in a research report on Monday, August 25th. They issued a “buy” rating and a $20.00 price target for the company. Zacks Research raised shares of Shoulder Innovations to a “hold” rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen upgraded Shoulder Innovations from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.60.

Shoulder Innovations Stock Performance

Shares of NYSE:SI traded up $3.72 during trading on Wednesday, reaching $15.08. 297,180 shares of the company were exchanged, compared to its average volume of 127,023. The business’s fifty day simple moving average is $12.98. Shoulder Innovations has a 12-month low of $10.92 and a 12-month high of $17.94.

Shoulder Innovations (NYSE:SI) last announced its quarterly earnings data on Tuesday, November 11th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.11). The company had revenue of $11.76 million during the quarter, compared to the consensus estimate of $9.99 million. Shoulder Innovations has set its FY 2025 guidance at EPS. Equities research analysts predict that Shoulder Innovations will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Shoulder Innovations news, CFO Jeffrey S. Points bought 1,600 shares of Shoulder Innovations stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $15.67 per share, with a total value of $25,072.00. Following the completion of the acquisition, the chief financial officer directly owned 52,445 shares in the company, valued at approximately $821,813.15. This trade represents a 3.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Joseph Ball purchased 6,000 shares of the stock in a transaction on Friday, September 12th. The stock was acquired at an average cost of $15.49 per share, for a total transaction of $92,940.00. Following the completion of the acquisition, the chief executive officer owned 111,259 shares of the company’s stock, valued at $1,723,401.91. The trade was a 5.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 9,600 shares of company stock worth $147,812 in the last quarter.

Institutional Investors Weigh In On Shoulder Innovations

A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers purchased a new position in shares of Shoulder Innovations in the 3rd quarter valued at about $54,000. Board of Trustees of The Leland Stanford Junior University acquired a new position in shares of Shoulder Innovations during the third quarter valued at approximately $170,000. Readystate Asset Management LP purchased a new stake in shares of Shoulder Innovations during the third quarter worth $511,000. Vanguard Group Inc. purchased a new position in shares of Shoulder Innovations in the third quarter worth about $1,836,000. Finally, Federated Hermes Inc. purchased a new position in shares of Shoulder Innovations during the 3rd quarter worth approximately $2,510,000.

About Shoulder Innovations

We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. We currently offer advanced implant systems for shoulder arthroplasty. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care – preoperative planning, implant design and procedural efficiency – to benefit each stakeholder in the care chain.